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- Not good in my view ...
The tier-2 and 3 cities have prices that have gone up mostly in rumor (exceptions like Pune exist) and not on the basis of real movement of the drivers of growth (like IT?).
Example that I know of is Mysore. Prices are ridiculously high simply on the hope that IT will move there. Why should it? Today, more and more work is being done remotely from whereever you can find talent. And that trend will continue and seriously erode so-called "value" that we attach to property based in our limited thinking.
With the Global recession / depression coming up fast property will either be flat (where they have not shot up much) or may even show a mini-crash (where they have unjustifiably risen).
Just my 2c.
cheersOriginally Posted by amol84Hi friends,
my query is how much change in prices are expected over a time frame of five years for tier-2 and tier-3 cities like pune ,chandigarh ,jaipur ,mysore ,hyderabad ,kolkata etc where there is a good chance of appreciation . I just want a macro view of the future economic situation. Please could you tell me if the prices have already appreciated and there is not much scope for price gain.CommentQuote0Flag